The latest to emerge in a run of recent LLP filings is Holman Fenwick Willan, which has seen its revenue dip 5% to £139m from £145m while operating profit fell by 16% to £49.9m from £59m.

The consolidated accounts reveal profit for division among members also decreased by 15% to just under £46m.

Spending on salaries rose to £43.4m from £40.2m the previous year while the average number of people employed rose slightly to 769 from 759. Average profit per member dropped from £353,000 to £303,000 while the share of profit allocated to the member with the largest entitlement in the year to 31 March 2015 was £3.6m, from £11.3m in 2014.

The firm’s bank overdraft facilities stood at £5.5m and borrowings include a term loan of £7.1m at 31 March 2015 (down from £7.9m in 2014) which is not due until 2023.

Holman Fenwick, which has 13 offices including Paris, Hong Kong, Sydney and Sao Paulo, generates more than half its revenue, or about £70m, in the UK.

Other recent filings reveal Clifford Chance’s 12-strong executive leadership committee took a pay cut as LLP filings showed the group saw an average 7% decrease in pay this last financial year as the firm’s revenue and profit also fell, while Allen & Overy’s c-suite took home almost 10% more last year off the back of strong revenues.